Paychex, Inc. (NASDAQ:PAYX) Holdings Increased by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC grew its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,832 shares of the business services provider’s stock after buying an additional 293 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Paychex were worth $678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Monument Capital Management raised its position in shares of Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock worth $240,000 after buying an additional 72 shares in the last quarter. Mutual Advisors LLC raised its position in shares of Paychex by 2.6% during the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock worth $423,000 after buying an additional 73 shares in the last quarter. Emerald Advisors LLC raised its position in shares of Paychex by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock worth $423,000 after buying an additional 74 shares in the last quarter. Weaver Capital Management LLC raised its position in shares of Paychex by 3.7% during the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock worth $297,000 after buying an additional 75 shares in the last quarter. Finally, Adero Partners LLC raised its position in shares of Paychex by 3.2% during the 4th quarter. Adero Partners LLC now owns 2,391 shares of the business services provider’s stock worth $335,000 after buying an additional 75 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Paychex

In other Paychex news, Director Joseph M. Velli sold 3,650 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $149.25, for a total value of $544,762.50. Following the completion of the sale, the director now owns 78,455 shares in the company, valued at $11,709,408.75. This represents a 4.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 11.40% of the company’s stock.

Paychex Stock Performance

Paychex stock opened at $155.98 on Monday. The firm’s 50 day simple moving average is $147.26 and its 200-day simple moving average is $145.76. The company has a market cap of $56.18 billion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 4.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a fifty-two week low of $115.40 and a fifty-two week high of $159.30.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $1.38 earnings per share. As a group, equities research analysts predict that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, May 12th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, May 12th. This is an increase from Paychex’s previous quarterly dividend of $0.98. This represents a $4.32 dividend on an annualized basis and a yield of 2.77%. Paychex’s payout ratio is presently 90.00%.

Wall Street Analyst Weigh In

A number of research firms have commented on PAYX. UBS Group boosted their price target on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Barclays boosted their target price on shares of Paychex from $140.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, March 31st. Cfra Research upgraded shares of Paychex to a “hold” rating in a report on Thursday, March 27th. Stifel Nicolaus boosted their target price on shares of Paychex from $141.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, March 27th. Finally, Morgan Stanley boosted their target price on shares of Paychex from $137.00 to $142.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $141.00.

About Paychex

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.